Good Bites...on legacies 14_09_2011: Rob Cope presentation

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The UK legacy market is estimated to be worth around £1.9 billion* a year yet many charities struggle to create effective strategies and communications that tap into this.

Striking the right balance between inspiring a supporter to want to leave you a legacy and overcoming the barriers that stop them doing so is essential within your legacy marketing strategy. Only by understanding people and their motivations, then using this insight effectively, can you create the right offer (not ask!) that genuinely engages, inspires and reassures.

Speakers Roger Lawson, Strategy & Planning Director, Paul Newman, Senior Planner and Debbie Clark, Planner, The Good Agency shared some of the most effective legacy marketing in the sector. Rob Cope, Director, Remember a Charity shared insights on how Remember a Charity can share your burden.

* Legacy Foresight 2009

Published in: Health & Medicine
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Good Bites...on legacies 14_09_2011: Rob Cope presentation

  1. 1. How brave are you about legacies?
  2. 2. UK legacy „market‟ at a glance• In 2009 the legacy market was worth almost £2bn• That‟s almost15% of all voluntary income...• ... and 6% of all incoming resources• Just 7% of all people leave a bequest...• ... representing 3% of all money left in estates
  3. 3. Huge change in wealth
  4. 4. Single (childless) people account for over half of the charitable legacy pot Value of charitable legacies by gender and marital status Married females Married males 1% Widowed/divorced 1% males 9% Single females 31%People with no „natural heirs‟ Widowed/divorcedare the most likely to leave femalesresidual bequests 34% Single males 24%Source: Inland Revenue, based on a sample of 1000 deaths in 2000/01
  5. 5. Residual legacies account for 85% ofConsortium incomeConsortium income and notifications by bequest type, 2009 Smaller Residual Large Residual Pecuniary Other (<£100,000) (>£100,000) % of bequests 52% 34% 5% 9% % of income 8% 36% 49% 7%Source: Legacy Monitor Consortium 2010
  6. 6. In 2007/8, only 4,200 charities received any legacy income The legacy market by charity size, 2007/8 Size band No charities Legacy % of total income £m Micro 80,608 2.5 0.1 Small 53,971 5.7 0.3 Medium 21,470 175.2 9 Large 4,128 350.1 18 Major 438 1,468.2 74 All 160,615 2,001.7 100Source : NCVO Civil Society Almanac 2010
  7. 7. The top 10 players account for 30% of all income Legacy income in 2008/9 (£m) 157 160 140 Cancer Research UK for 8%! 120 100 95 80 66 60 50 45 44 43 37 36 40 32 20 0 RNLI RSPCA Macmillan PDSA BHF RNIB Guide Dogs CR - UK National Trust Salvation ArmySource: Caritas database
  8. 8. Medium-sized legacy charities are growing fastest Growth in legacy income by size of charity,% pa, 2004/5 – 2008/9 8 7 6 5 4 3 2 1 0 Extra large £20m+ Large £8-20m Medium £1-8m Small £0.3k - £1mSource: Legacy Foresight analysis of Caritas data, 2010
  9. 9. But the legacy „super-brands‟ still get the biggest residuals Average residual value by size of charity, £000, 2009 60 50 54.6 47.1 40 42.9 30 20 10 0 Extra large Large MediumSource: Legacy Monitor 2010
  10. 10. Health and animal charities dominate Legacy market by sector, 2008/9 Other, 17.2 Children, 3.9 Health, 42.6 Development, 5.5 Conservation, 8.3 Disability, 8.1 Animals, 14.3Source: Legacy Foresight analysis of Caritas data, 2010
  11. 11. But new sectors are gaining ground Winning and losing sectors, 2004/5 – 2008/9 < Slowest growth Fastest growth > Blindness Religious Overseas development Wildlife trusts Children Domestic poverty relief Cancer Armed services Deafness Old People Animal welfare Arts Learning Blindness Medical conditions Education Disabilities Heritage Environmental protection Hospices Mental health NHS Trusts Saving lives HeartSource: Legacy Foresight
  12. 12. The legacy market quadrupled in 20 years Total legacy income, (1988-2009), £bn, current prices Average annual growth = 7.3% pa Long period of expansion, driven by continually rising house prices Early 90‟s recessionSources: Smee & Ford, NCVO, Legacy Foresight
  13. 13. But the outlook for the next five years is muted Real annual growth in legacy income, % paLate 1980s Boom +11.0%1990 – 1995 Recession -0.5%1996 – 2007 Boom +5.5%2008 – 2010 Recession -1.8%2011 – 2015 Recovery +1.2%
  14. 14. In the long term, prospects are good Number of deaths, UK, 1986 - 2060 750 700 650 600 550 500 1991 1996 2001 2006 2011 2016 2021 2026 2031 2036 2041 2046 2051 2056Source: Office for National Statistics, Government Actuarys Department
  15. 15. The boomers are coming!
  16. 16. ... And a new generation of childless women
  17. 17. “I‟ve never really thought about it...”“It‟s when you‟re dead and you don‟t want to think about dying...”
  18. 18. Window vinyls were used in charity shops, offices and museums tobring the campaign to the high street.
  19. 19. Starting the legacy conversation…
  20. 20. Task Groups
  21. 21. Website trafficRemember A Charity Week generates significant heightenedawareness and action among the public
  22. 22. 20%
  23. 23. Thank you

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